Public Employees Retirement System of Ohio Sells 78,885 Shares of Northern Oil and Gas, Inc. $NOG

Public Employees Retirement System of Ohio trimmed its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 60.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 51,683 shares of the company’s stock after selling 78,885 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Northern Oil and Gas were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of NOG. Jones Financial Companies Lllp raised its stake in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares during the period. Ascentis Independent Advisors bought a new position in shares of Northern Oil and Gas during the 1st quarter worth $33,000. EverSource Wealth Advisors LLC increased its holdings in Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after acquiring an additional 1,228 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Northern Oil and Gas by 85.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock worth $44,000 after acquiring an additional 702 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after acquiring an additional 1,432 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NOG shares. Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Monday, June 29th. Wall Street Zen lowered shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada upped their price target on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Citigroup cut their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Mizuho reduced their price objective on shares of Northern Oil and Gas from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.62.

Insiders Place Their Bets

In other news, Director Bahram Akradi bought 25,760 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the purchase, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This trade represents a 1.53% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Northern Oil and Gas Trading Down 0.2%

Shares of NOG opened at $21.10 on Monday. Northern Oil and Gas, Inc. has a twelve month low of $17.18 and a twelve month high of $31.17. The stock has a market cap of $2.30 billion, a PE ratio of -3.31 and a beta of 0.70. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. The business’s 50-day moving average price is $20.32 and its 200-day moving average price is $24.12.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, June 29th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend was Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is -28.26%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.